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The broking team led by Christian Warrener is expected to join Oneglobal as part of the deal. -
Capital is looking for opportunities to build international specialty businesses out of EC3.
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The fresh funding will be used to support Meridian’s growth plans.
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The Inflexion-backed broker’s Ebitda has swelled to ~£25mn.
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The proceeds will fund AUB’s acquisition of Pacific Indemnity.
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Recent contingency losses reflect a willingness of the market to go looking for premiums.
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The BMC-IBM judgment was insured for about $700mn on a heavily co-insured tower of around $1bn.
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Sources said the broker will seek to become a super independent with an international specialty footprint.
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The acquisition brings international M&A opportunities and a pipeline of London wholesale business.
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The vehicle will give the legacy carrier a US platform.
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This is not the first pulled strategic process in the adjusting, and broader claims services, sector in recent months.
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Paragon co-CEOs James Kalbassi and Tara Falk will become Ardonagh shareholders.
